Coca Cola Correlations

Stocks . Germany . 
Stock . Coca Cola HBC
C0Q Stock  EUR 34.06  0.26  0.76%   
The current 90-days correlation between Coca Cola HBC and Compagnie Plastic Omnium is -0.16 (i.e., Good diversification). The correlation of Coca Cola is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Coca Cola Correlation With Market

Significant diversification

The correlation between Coca Cola HBC and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Coca Cola HBC and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Coca Cola could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Coca Cola when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Coca Cola - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Coca Cola HBC to buy it.

Moving against Coca Stock

  0.45BYRA PT Bank RakyatPairCorr
  0.38CFS5 Coca Cola FEMSAPairCorr
  0.35YKH Yakult Honsha CoLtdPairCorr
  0.34BYRA BANK RAKYAT INDPairCorr
  0.31CFH0 CHINA FOODS UNSPADR20PairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
GTR
+ 0.88
VMC
MUJ
+ 0.62
26Y
HYEA
+ 0.59
J9T
HYEA
+ 0.55
26Y
26Y
+ 0.48
J9T
MUJ
+ 0.45
HYEA
  
High negative correlations   
VMC
- 0.63
26Y
VMC
- 0.56
MUJ
GTR
- 0.46
26Y
EZM
- 0.38
26Y
GTR
- 0.37
MUJ
GTR
- 0.37
HYEA

Risk-Adjusted Indicators

There is a big difference between Coca Stock performing well and Coca Cola Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Coca Cola's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Coca Cola without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

Did you try this?

Run Price Exposure Probability Now

   

Price Exposure Probability

Analyze equity upside and downside potential for a given time horizon across multiple markets
All  Next Launch Module
Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
Feedback Blog
Made with optimal in San Francisco
2024 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY